Solar Energy Co’s Stock Status Falters

August 29, 2003 [] Less than a month after solar photovoltaic company AstroPower ran into stock market trouble, another company which is heavily invested in solar is reporting difficulties with their Nasdaq listing. Spire Corporation announced that on August 22, 2003 it filed an amendment to its Quarterly Report on Form 10-QSB for the period ended June 30, 2003 disclosing that the financial statements included in the Form 10-QSB had not been reviewed by its independent auditor. The company also announced that it has been notified by Nasdaq that, as a result of the absence of the review, the company is in violation of Marketplace Rule 4310(c)(14) and that Nasdaq has begun a process that may result in the delisting Spire’s securities from the Nasdaq National Market. The company is requesting an oral hearing before a Nasdaq Listing Qualifications Panel at which Spire will argue that its shares should not be delisted. Beginning on August 27, 2003, the company’s shares will trade under the ticker symbol “SPIRE” until the matter is resolved.


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